Strong track-record in Malaysia wins repeat MacGregor offshore winch orders

CARGOTEC CORPORATION, PRESS RELEASE 20 DECEMBER 2012 AT 10 A.M. (EET)

A series of new MacGregor offshore winch orders, secured in October, will serve the strong demand for maintenance, hook-up and commissioning services for existing oil platforms within the shallow water region of the Malay basin, says Francis Wong, Director, Segment Sales and Marketing, Offshore.

"As oil prices remain high and oil majors continue to invest in exploration and production activities in the region, this has continued to boost the demand for new businesses relating to these services," explains Mr Wong. "Consequently, maintenance work boats and barges are in high demand to serve the needs of the area's oil platforms, many of which are operated by Petronas and Shell.

"Our equipment has a proven track-record in the area and the majority of these orders are repeat contracts from operators and shipyards. Our service networks within the region are another important strength," he notes.

Orders secured in October include two eight-point mooring systems, each with a 90-tonne line pull, a 150-tonne brake holding capability and a 1,500m x 52mm diameter wire drum capacity, for accommodation work barges. The vessels are being built by Xiamen Shipbuilding Industry Co Ltd, in China, under a subcontract agreement with leading Malaysian offshore support vessel builder, Nam Cheong Dockyard Sdn Bhd. The equipment is scheduled for delivery between the second and third quarter of 2013.

Under a similar arrangement, a four-point mooring system with a 50-tonne line pull, a 120-tonne brake holding capability and a 1,500m x 42mm diameter wire drum capacity, will be fitted on board a 78m/200-person maintenance/ work vessel. The contract also includes Macgregor auxiliary winches. Delivery to Xiamen is planned between the third quarter of 2013 and the first quarters of 2014.

Two other four-point mooring systems with 50-tonne line pulls, 120-tonne brake holding capabilities and 1,500m x 42mm diameter wire drum capacities will be delivered to two 80m/200-person maintenance/work vessels under construction at Shin Yang Shipyard Sdn Bhd, in Malaysia. These orders also include the supply of additional auxiliary winches. One of the vessels is being built for leading Malaysian marine service provider, DESB Marine Services Sdn Bhd, the other is for unknown Malaysian interest and the equipment delivery is planned between the second and third quarters of 2013.

For further information please contact,
Francis Wong, Director, Segment Sales and Marketing, Offshore, tel. +656868 8531
Email: francis.wong@cargotec.com

or

Heli Malkavaara, Communications Director, Marine, tel. +358 2 4121 252
Email: heli.malkavaara@cargotec.com

Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totalled EUR 3.1 billion in 2011 and it employs approximately 10,500 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com

MacGregor is the global market-leading brand in marine cargo handling and offshore load-handling solutions. Customer-driven MacGregor engineering and service solutions for the maritime transportation industry andthe offshore load-handling and naval logistics markets are used on board merchant ships, offshore support vessels, and inports and terminals.